Fund plans office developments at key projects
Andrea Carpenter
The Europa fund has bought two office development sites in Barcelona and Vienna.
In Barcelona, the fund has bought a site masterplanned for a 105,000m2 (1.13m sq ft) campus-style office park development in Cornella, a western suburb of Barcelona.
The scheme will be the largest single real estate project the city has seen since it hosted the Olympic Games in 1992.
The fund has formed a joint venture with the World Trade Center Barcelona Group, a consortium including the Port of Barcelona Authority and construction companies Dragados and FCC. Emducsa, the local authority’s investment vehicle, also has a stake.
The site has access to two of Barcelona’s major highways and is five minutes from the airport.
In Vienna, the fund has paid €19m for 26,000m2 (279,871 sq ft) of cleared land in two sites close to the Gasometer Shopping and Entertainment Centre in the Simmering district, which is also being developed by the fund.
The sites have development rights for up to 72,000m2 (775,027 sq ft) of offices.
The fund’s development plans total 257,600m2 (2.77m sq ft).
